Summer 2021 stands around -15% in volume but with a revenue per day +40%.
As a revenue manager expert, it has always been crucial for me to elevate the knowledge of my situation and integrate it in a wider market scope.
In revenue management, it is key to get this helicopter view about the general trends. Analyzing your data is key but knowing how the entire car rental market is behaving, is interesting too.
Since the beginning of the Covid 19 in Winter-Spring 2020, WeYield has been broadcasting twice a month a market trend report. We aggregate all our clients data from around the world and display them in a consolidated and anonymized format by geographical zone.
As June 2021 just finished, here are the indicators from a European standpoint:
Regarding the super peak summer (July and August), trends are pretty similar to June for the car rental sector in Europe:
For most European citizens, an increase in household savings and a strong desire to enjoy their summer escapes after two lockdowns in Autumn 2020 and Spring 2021 without winter vacations are supporting overall strong demand. Clearly, the travel restrictions in the United Kingdom, number one source country for European destinations, jeopardize July trends.
“Clearly the Prime Minister wants the British to stay in the UK and spend their money locally” says a Cypriot car rental operator. All operators excepts that Boris Johnson will release the travel bans and reduce the cost of PCR tests.
* Revcar = Revenue per available car (utilization ratio x revenue per day)